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YouTube paid $1 billion for royalties in 2016

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YouTube has announced that it paid $1 billion in royalties over the year 2016. The platform tries to renegotiate its agreements with the record companies. The artists consider the remuneration too low considering the total earnings accumulated by YouTube.

The International Federation of Phonographic Industry denounces the low remuneration to artists compared with other video platforms, although YouTube is the largest on-demand music service in the world.

YouTube announced the recruitment of Lyor Cohen, a former leader of Warner Music, to manage the music on its platform. A commitment has also been made to the National Music Publisher’s Association, which plans to repay more than $ 40 million in royalties.

The artists are also opposed to the dissemination of their productions which can be diverted from the streaming platforms. There are also the sites and software to offer video retrieval directly from YouTube.

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